The Effect of Social Responsibility Reporting on Firm’s Investor Confident of Thai Listed Company
DOI:
https://doi.org/10.14456/psruhss.2023.33Keywords:
Social responsibility reporting, Value added statement, Sustainability disclosure, Firm’s investor confidentAbstract
This research has objective to study the effect of social responsibility reporting on firm’s investor confident. Due to the lack of confidence in investing from receiving inadequate information about social responsibility, investors are unable to do so. The secondary data is used for the analysis with sample of 98 firms of The Stock Exchange of Thailand (SET) announces listed firms with outstanding performance on Environmental, Social and Governance (ESG) aspects on the Thailand Sustainability Investment (THSI) list for 2019. The study period is 2015-2019. STATA (STATA/SE 12.0) as statistical tools were employed to estimate parameters in hypotheses testing. The findings show that social responsibility reporting, which consists of value added statement and sustainability disclosure, have the significant positive effect on firm’s investor confident. Research suggestion is a supplementary financial statement, in addition to financial statements, follow Thai accounting standards 1 (revised 2017). Presentation of value added statement, which can provide information about wealth creation to society. Disclosure of environmental performance can reflect that the business has good corporate governance and transparent management. Thus, social responsibility reporting can effective risk management with stakeholders in mind and makes the business competitive and can generate long-term returns.
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